Prophet Professional is an integrated suite of actuarial systems used primarily by insurance companies to perform actuarial calculations including profit testing, projections, reserving, asset liability modelling, stochastic modelling and risk management.
Solvency II and parallel risk-based capital regimes in China, Latin America and South Africa have been a focal point for many of our recent developments.Prophet is purpose-built to handle cash-flow projections, which are essential for the calculation of the Best Estimate Liability, whether calculated deterministically or stochastically.
FIS has extended its established expertise in risk modelling and data management to the non-life industry with Prophet GI.Running risk models themselves is only one side of the operational challenge for general insurers.
The rise of risk-based solvency regimes has prompted insurers to look for actuarial modelling solutions that are capable of being recalculated a large number of times in order to examine the impact of stressing particular assumptions or investigating a range of scenarios.
Implementing and Upgrading Prophet Liability Models
With increased regulations such as Sarbanes Oxley, MCEV, Solvency II and IFRS, and the demand to reduce the reporting timescales, companies of all sizes are looking to improve their end-to-end reporting processes.
Ever-increasing demands on actuarial models such as Solvency II, Stochastic on Stochastic, Replicating Portfolios and increasing regulatory requirements mean our customers are always looking for ways to improve their end-to-end reporting process.
Using Prophet’s ALS library, our experienced Prophet team can help you implement your Market-Consistent Embedded Value model(s) (MCEV) or upgrade your existing embedded value model(s) to take into account the latest MCEV or Solvency II principles.
General/P&C insurers are under pressure to improve their reserving and capital modelling capabilities.To help customers optimize their use of Prophet GI and its end-to-end capabilities, FIS provides comprehensive services packages across:
A large UK life insurer moves to the Cloud for Lower Costs and Sky-high PerformanceThe companyWith headquarters in the U.K., our client is one of the world’s largest insurance and investment management companies, and one of the U.K.'s major providers of individual life protection policies and group protection.